House Hunt

For this week's House Hunt, BSP is offering readers something a little different: We have five open houses for mixed-use properties, that is, property that can be used for both residential and commercial purposes.

These types of properties are ideal not only for homebuyers, but also small business owners and entrepreneurs! The City has made available tax abatement.

Note also, because these properties were renovated by the City specifically to help small business development, occupancy of either the residential or commercial space is required of the buyer. Flipping of these properties will result in a lien of up to 25 years.

On Saturday, August 6, from 1:00pm - 5:00pm, the New York City Department of Housing and Preservation StoreWorks Program will open the properties of six buildings in Bedford Stuyvesant with ground floor commercial spaces:

• 489 Ralph Avenue, 1 two-bedroom unit , 706 sq.ft commercial space, $400,000
• 501 Ralph Avenue, 1 two-bedroom unit, 608 sq.ft commercial space, $400,000
• 377 Thomas Boyland St, 1 two-bedroom unit, 870 sq.ft commercial space, $425,000
• 195 Patchen Avenue, 2 two-bedroom unit, 812 sq.ft commercial space, $625,000
• 833 Dekalb Avenue, 2 two-bedroom, 602 sq.ft commercial space, $600,000

"New York City has long been the largest landlord across the five boroughs over the years, but it's trying to divest itself of many of these property holdings," said Byron Todman, director of housing development at NYC HPD.

All of the buildings were stripped to their frames, rebuilt and fully renovated. The storage is just a "vanilla box," (open space), so purchasers can renovate as desired.

All units contain hardwood floors, solid wood cabinets, new electrical, new plumbing, new windows, a full basement and separate boilers for commercial and residential use. There are new Energy Star-rated appliances in all apartments. The storefronts are sheet-rocked and primed.

For applications, go to the StoreWorks Program website or call 212-519-2528 or come on out to the open house this weekend!